Although the collapse of the TerraUSD (UST) stablecoin has demoralized the cryptocurrency market; Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Solana (SOL) and other cryptocurrencies have completely different business uses. Defending this, Jaltech (fund management company) partner Jonty Sacks explained Jaltech’s altcoin portfolio, while an analyst conveyed his analysis for the market.
Analyst explains his overall analysis of cryptocurrencies
Crypto analyst Marcus Kramer argues that multiple incentive controls will likely go to BTC by the Joe Biden administration to help Americans survive these tough economic times (As in 2021). “Secondly, institutional funds (Fidelity, Paypal, Tesla, MicroStrategy, etc.) entering crypto markets and even governments (Miami) now entering crypto are leading them,” Kramer says. Altcoins have started showing signs of recovery, albeit from much lower support levels over the past few days.
There may be more jolts along the way, but it’s clear that buyers are reentering the market believing this is the best buying opportunity of the year, according to the analyst. A good indicator of investor sentiment is the futures long/short ratio, which measures the number of traders who open short positions versus investors who open long positions over a given period of time. Now it has moved heavily on the long side of the trade, which is usually a bullish indicator. These are not particularly worrisome times for those who have invested in cryptocurrencies for more than four or five years. The analyst thinks these moves are very familiar to such investors.
What altcoin projects are in the Jaltech portfolio?
Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Solana (SOL) and other cryptos have completely different business uses. They offer Blockchain solutions for common business and financial needs such as lending and investing at interest, without intermediaries like banks. To participate, this Blockchain works on local currencies; i.e. you need to have ETH, ADA, DOT and SOL. Jaltech’s portfolio includes the following coins:
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